Yes, your EquityCard works the same way.
Debit cards work over the same worldwide networks (MasterCard, Visa, etc.) used to process credit card payments. You can use your card two ways:
With a personal identification number (PIN) to withdraw cash from an ATM or to request "cash back” at stores when making a purchase
With your signature or PIN to pay for goods, meals, gas and services.
While debit cards look similar to credit cards, they work differently. You can't use them to charge a purchase and pay it back over time, as you can with a credit card. For your debit card to work, you must have enough money in your account to cover transactions unless you have overdraft protection.